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NBCN presents its new off-shore managed account platform offering for investment managers

Date: Friday, April 20, 2007
Author: Press Release

Montreal, April 19, 2007 – NBCN Prime Brokerage Services, a specialized alternative investment administration service from National Bank Financial, and Innocap Investment Management Inc., a wholly owned subsidiary of National Bank of Canada, are pleased to announce the launch of their new European based managed account platform for alternative investment managers. This offering resulted from the integration of Innocap’s Direct Access managed account platform with the NBCN Prime Brokerage offering. 

“NBCN Prime Brokerage clients now have a superior and efficient way to offer international investors access to their funds through Innocap’s Direct Access Solution coupled with our prime brokerage service offering,” said James Niosi, Vice-President of NBCN Prime Brokerage Services. Canadian managers now have a unique opportunity to expand their investor base by leveraging this solution.”

The Innocap Direct Access Solution is implemented in part through a fully managed account platform structure based in Malta, a member of the European Union for which Innocap acts as investment advisor. “Innocap’s Direct Access Solution provides a full oversight role for hedge funds by acting as intermediary between the hedge fund and its investors. We provide full legal, risk valuation, shareholder administration and overall administrative functions to the hedge fund manager, while offering complete transparency and risk monitoring to the investor,” explained Martin Gagnon, Managing Director of Innocap.

NBCN Prime Brokerage Clients will be able to leverage the entire prime brokerage service offering with this newly integrated solution implemented through a European Union-based structure. 


About NBCN Prime Brokerage

NBCN Prime Brokerage Services, a division of NBCN, is a specialized administrative service offering solutions for alternative investment funds and fund managers across equities, options, fixed income, foreign exchange, equity derivatives and equity finance. Its Synthetic Prime Brokerage offering includes swaps, forward transactions as well as customized fund structures and solutions. With an established offshore hedge fund marketing group and PrimeVue ™ technology adapted to the unique needs of hedge fund managers, NBCN Prime Brokerage Services offers the collective power of National Bank Financial Group to hedge fund managers, enabling them to supplement commoditized products and services with other asset structures, customized solutions and transactions. For more information, please visit the company’s website at www.nbcn.ca.

About National Bank Financial

National Bank Financial is a leading Canadian full-service investment bank, with origins dating back to 1902. National Bank Financial has over 3,400 employees with offices and operations in Canada, Switzerland, the US, and the United Kingdom. The firm offers financial services and products to private and publicly owned corporations and institutional investors, individual investors and government agencies. National Bank Financial has 86 retail offices across Canada and is the dominant provider of third party brokerage services in the country. For more information, please visit the company’s website at www.nbfinancial.com.


About Innocap

Innocap is the end result of 10 years of investments in hedge fund strategies for National Bank of Canada. Innocap acts as National Bank's asset manager for its alternative investment activities and is currently advisor for US $2.0 billion in hedge fund mandates. Innocap's unique managed account platform increases the user's control over assets since all accounts at the prime brokers, future clearers, counterparties and bank accounts are opened in the name of Innocap's clients. This structure allows for the complete ownership of positions; no money is invested directly in the managers' hedge fund. Innocap Investment Management Inc. is a wholly owned subsidiary of National Bank of Canada.

Information (The telephone number provided below is for the exclusive use of journalists and other media representatives):

James Niosi
Vice President
National Bank Financial Group
(416) 542-2465

Martin Gagnon
Managing Director

(514) 397-5869